Finance & Accounting Segment

Finance & Accounting: Are vital because a business cannot exist without cash flow. Focus on the following: creating ______?______, accurate financial statements.

• budgets

• financial reports

• investment plans

• cash reserves

Finance & Accounting: Are vital because a business cannot exist without cash flow. Focus on the following: making a plan to ____?____.

• ensure profitability

• increase expenses

• reduce revenue

• ignore cash flow

Accounting: Is a system used to record, classify, ____?_________ and report the financial position of a business.

• summarize

• analyze

• calculate

• predict

Accounting responsibilities include recording ____?________.

• financial transactions

• assets

• human resources

• events

Financial Transactions: Are financial entries affecting the financial position of a business. Include these classifications: ______?________.

• assets

• liabilities

• equity

• all of the choices

Complete the financial equation: assets + liabilities =

• profit

• owner's equity

• liabilities and owner's equity

• revenue

The financial reports that includes the totals in asset, liability and owner's equity accounts is found in the

• two main types

• financial statements

• balance sheets

• income statements

An income statement: ______?

• reports net income or net loss of a company

• shows balance sheet and income statement

• reports assets and liabilities

• shows ash flow and equity

The amount of capital invested by owners is the total value of assets minus ______?

Finance Goal: Determine use of company resources and . Responsibilities include the following: managing use of company funds, obtained needed funds, creating a ______?________.

• company budget

• financial plan

• investment plan

• marketing strategy